Crypto.com Exchange Reportedly Suspends LUNA Trading: What You Need to Know

Cryptocurrency exchange Crypto.com has reportedly halted the trading of Terra (LUNA) tokens. This decision follows a period of volatility and concerns surrounding the LUNA token and its ecosystem. Crypto.com, a Singapore-based exchange with over 50 million users, has halted the LUNA trading as per the reports. The decision might be a follow-up due to the high volatility and the events surrounding Terra's collapse.

Suspension Details and Affected Assets

In a decision that stirred up the crypto community, cryptocurrency exchange Crypto.com announced the suspension of Terra Luna Classic (LUNC) trading. The suspension extends to deposits and withdrawals for Terra native and Cronos CRC20 LUNA, Ethereum Mainnet ERC20 and Cronos CRC20 MIR, and LUNA. This means users are currently unable to buy, sell, deposit, or withdraw these tokens on the Crypto.com platform.

Why the Suspension? Incorrect Pricing and Market Volatility

Cryptocurrency exchange Crypto.com has halted the trading of Terra (LUNA) tokens after it determined that user transactions were quoted at an “incorrect price,” potentially leading to inaccurate valuations and market instability. This is in addition to the general market volatility surrounding LUNA.

LUNC Delisting: Delayed but Still Happening?

Crypto exchange Crypto.com has reportedly delayed the delisting of Terra Luna Classic (LUNC) to April, as per emails received by some community members. While the exact timeline remains uncertain, the trend among exchanges points towards reducing support for LUNC and related assets.

What Should LUNA Holders Do?

Cryptocurrency exchange Crypto.com has cautioned Terra Luna Classic (LUNC) holders to sell or withdraw their tokens. Igniting a wave of discontent from the community, this highlights the risks associated with holding tokens facing delisting and reduced market activity.

Other Exchanges Removing LUNA

Múltiples exchange se han apresurado para remover de sus plataformas a los activos relacionados con Terra (LUNA) following the initial market crash. This widespread delisting further reduces liquidity and accessibility for LUNA holders.

Legal Ramifications in the Crypto Space

The Terra/LUNA collapse has also had legal ramifications. Un trader de criptomonedas es condenado a 42 meses de prisión por fraude, highlighting the increased scrutiny and accountability within the cryptocurrency industry.